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Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
 The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, had a negative impact on chartering activity. As a result freight rates came under further pressure, with iron ore fixtures posting a continued decline and overall spot chartering activity also facing decreases.
According to the latest weekly report issued by Commodore Research, “iron ore fixtures remain relatively low due to the ongoing restrictions on electricity allocation to Chinese steel mills. Overall chartering activity also came under pressure last week due to holidays in Asia. 19 iron ore fixtures were reported last week, a decrease from 24 iron ore fixtures reported during the previous week. 15 of last week’s iron ore fixtures were for capesize vessels, an increase from 12 capesize vessels chartered to haul ore during the previous week. Global coal and grain demand have remained moderate but have not been robust enough to stem the fall in spot freight rates” the report said.
As a result of this negative trend, Capesize rates are currently averaging $29,002/day, a decrease of $4,810 (-14%) from a week ago. Panamax rates are now averaging $21,840/day, a decrease of $1,685 (-7%). Supramax rates are averaging $19,644/day, a decrease of $1,397 (-7%). Handysize rates are averaging $15,666/day, a decrease of $298 (-2%).
At the same time period chartering activity also remained subdued, with 92 spot trip fixtures (28 less than the previous week) and 16 period fixtures (1 less than the previous week) were reported last week. Commodore said that none of the period deals were for a year or more. “Sentiment remains somewhat negative due to the going electricity restrictions to steel mills in China. Last week marked the first time in eleven weeks that no period deals for a year or more were reported. At that time, sentiment was very negative due to spot freight rates approaching 2010 lows.
The report mentioned that “market players remain spooked by the recent decision by the Chinese government to reduce electricity allocation to Chinese steel mills - but so far Chinese steel production has reportedly only decreased by 2%. The electricity restrictions will continue to represent a significant threat to near-term dry bulk freight rates, however, and must continue to be monitored extremely closely. Several analysts have forecast that Chinese steel output will decline by as much as 10% due to the ongoing electricity restrictions.
Based on August’s 51.64 million tons of crude steel production, this would put post-restriction monthly output at approximately 46.5mt, an amount not seen since May 2009. We continue to anticipate that Chinese steel demand will exceed most expectations. Chinese stockpiles have remained steady in recent weeks and there is little reason to believe that immediate steel demand has significantly decreased. We expect Chinese steel production to range between 48 to 49mt of crude steel in September and October.
The Chinese government cannot afford to have steel prices surge due to an artificial restraint on supply. Inflation is already a growing concern in China. The National Development and Reform Commission has also criticized the electricity allocation restrictions” concluded Commodore.
In terms of the secondhand and demolition activity of the past week, shipbroker Golden Destiny said that in total there were 39 sales reported. The activity was high at both the S&P and the newbuilding market with 32 & 34 orders reported in total respectively. “The secondhand market has been marked with a 100% positive yearly change with 32 vessels reported to have changed hands this week equalling a total amount of money invested more than US$796,800,000, since in 9 transactions the price hasn’t been disclosed. In the demolition market, 7 vessels have been headed to the scrap yards of total deadweight 218,513 tons, while in 2009 14 vessels reported for scrap indicating a negative yearly change of 100%. In the newbuilding market, 34 vessels reported to have been ordered equalling a total deadweight around 1,683,000 tons. The dry sector has held the largest share of newbuilding contracts, equalling a total deadweight of 1,076,000 tons, with orders from kamsarmaxes, panamaxes & supramaxes being the most popular vessel types. The Greek presence has been noticed this week only in the secondhand market with 6 transactions, two in the in the post panamax bulkcarrier sector and four in the small panamax container sector. The cumulative amount invested by Greek investors in the secondhand market can be calculated only by the bulkcarrier acquisitions around $ 82,000,000, since the price of the Container enbloc transaction has not been disclosed” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Economic Council, Georgia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
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